American Tower Co. (NYSE:AMT) Shares Purchased by RWC Asset Management LLP

RWC Asset Management LLP increased its position in shares of American Tower Co. (NYSE:AMT) by 4.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 245,469 shares of the real estate investment trust’s stock after purchasing an additional 10,355 shares during the period. American Tower accounts for approximately 2.3% of RWC Asset Management LLP’s portfolio, making the stock its 10th largest position. RWC Asset Management LLP’s holdings in American Tower were worth $45,021,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AMT. Fortitude Family Office LLC lifted its holdings in shares of American Tower by 269.0% in the 3rd quarter. Fortitude Family Office LLC now owns 107 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 78 shares during the period. Hara Capital LLC acquired a new stake in shares of American Tower in the third quarter worth approximately $31,000. Roxbury Financial LLC acquired a new stake in shares of American Tower during the 4th quarter worth $32,000. Legacy Investment Solutions LLC acquired a new position in shares of American Tower during the 3rd quarter valued at $34,000. Finally, Activest Wealth Management boosted its stake in shares of American Tower by 431.0% in the third quarter. Activest Wealth Management now owns 154 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 125 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMT has been the topic of several research analyst reports. Scotiabank reduced their price target on shares of American Tower from $236.00 to $220.00 and set a “sector outperform” rating on the stock in a research report on Thursday, January 23rd. Wells Fargo & Company dropped their price objective on American Tower from $215.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. BMO Capital Markets decreased their price target on shares of American Tower from $255.00 to $245.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. JMP Securities initiated coverage on shares of American Tower in a research note on Monday, January 27th. They set an “outperform” rating and a $225.00 price objective for the company. Finally, Citigroup reduced their price objective on American Tower from $255.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, February 14th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $225.79.

Insiders Place Their Bets

In related news, CFO Rodney M. Smith sold 16,567 shares of American Tower stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $181.10, for a total transaction of $3,000,283.70. Following the sale, the chief financial officer now directly owns 62,792 shares of the company’s stock, valued at $11,371,631.20. This trade represents a 20.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.18% of the company’s stock.

American Tower Stock Performance

AMT opened at $191.32 on Monday. American Tower Co. has a 52-week low of $170.46 and a 52-week high of $243.56. The company has a market cap of $89.40 billion, a PE ratio of 80.73, a price-to-earnings-growth ratio of 1.29 and a beta of 0.84. The company has a debt-to-equity ratio of 3.27, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a 50-day moving average of $185.67 and a 200-day moving average of $207.36.

American Tower Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, December 27th were given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend was Friday, December 27th. American Tower’s dividend payout ratio is 273.42%.

About American Tower

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.